Forge First Asset Management Inc. Has $10.32 Million Stock Position in Brookfield Business Partners L.P. (NYSE:BBU)

Forge First Asset Management Inc. lifted its stake in Brookfield Business Partners L.P. (NYSE:BBU) by 26.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 597,952 shares of the business services provider’s stock after purchasing an additional 126,769 shares during the period. Brookfield Business Partners comprises about 5.2% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 5th largest position. Forge First Asset Management Inc. owned 0.80% of Brookfield Business Partners worth $10,320,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. UBS Group AG increased its holdings in Brookfield Business Partners by 31.5% during the 1st quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock worth $189,000 after purchasing an additional 1,468 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Brookfield Business Partners by 1.2% in the first quarter. Public Sector Pension Investment Board now owns 123,637 shares of the business services provider’s stock valued at $2,276,000 after acquiring an additional 1,500 shares in the last quarter. BNP Paribas Arbitrage SNC purchased a new stake in Brookfield Business Partners in the second quarter worth about $40,000. Renaissance Technologies LLC grew its holdings in Brookfield Business Partners by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 38,700 shares of the business services provider’s stock worth $820,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Morgan Stanley increased its position in Brookfield Business Partners by 5.1% during the 4th quarter. Morgan Stanley now owns 124,638 shares of the business services provider’s stock valued at $2,114,000 after purchasing an additional 6,067 shares during the period. 79.81% of the stock is currently owned by institutional investors.

Brookfield Business Partners Stock Down 0.3 %

Shares of BBU stock traded down $0.04 during trading hours on Thursday, reaching $15.83. 1,072 shares of the company’s stock were exchanged, compared to its average volume of 12,275. The company has a current ratio of 1.06, a quick ratio of 0.79 and a debt-to-equity ratio of 2.52. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -394.40 and a beta of 1.27. Brookfield Business Partners L.P. has a fifty-two week low of $12.22 and a fifty-two week high of $22.34. The stock’s 50 day moving average is $14.94 and its 200-day moving average is $16.76.

Brookfield Business Partners (NYSE:BBU) last announced its earnings results on Friday, November 3rd. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($1.05). Brookfield Business Partners had a net margin of 0.67% and a return on equity of 2.21%. The business had revenue of $14.40 billion for the quarter. During the same quarter in the prior year, the company earned $1.56 earnings per share. Analysts predict that Brookfield Business Partners L.P. will post 3.78 earnings per share for the current fiscal year.

Brookfield Business Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -624.84%.

Analyst Ratings Changes

BBU has been the subject of several research reports. National Bankshares lowered their price target on shares of Brookfield Business Partners from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. Credit Suisse Group reaffirmed an “outperform” rating and set a $26.00 target price on shares of Brookfield Business Partners in a research report on Wednesday, August 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 price target on shares of Brookfield Business Partners in a research report on Monday. Scotiabank set a $27.00 price objective on Brookfield Business Partners and gave the company an “outperform” rating in a research report on Friday, September 22nd. Finally, Desjardins set a $30.00 target price on Brookfield Business Partners and gave the company a “buy” rating in a research note on Friday, September 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, Brookfield Business Partners presently has an average rating of “Buy” and a consensus price target of $28.80.

Brookfield Business Partners Profile

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.